Paytm, Groww, Saatvik Green among buzzing stocks as SENSEX climbs 430 pts; NIFTY trades above 23,250

The Indian benchmark indices, SENSEX and NIFTY50, were trading in positive territory during the afternoon session on Wednesday, September 16, amid gains in fast-moving consumer goods (FMCG), media and banking stocks and value buying.

The SENSEX rallied as much as 0.7% to hit an intraday high of 74,505.86. Meanwhile, the NIFTY50 soared as much as 0.72% to touch the session’s peak of 23,284.75.

At 1:15 PM, the S&P BSE SENSEX jumped by 429.58 points, or 0.58%, to trade at 74,433.40. NSE’s NIFTY50 was trading at 23,254.65, marking a 136.05-point, or 0.59% increase.

The top gainers of the NIFTY50 index included Trent, ITC, Tata Consumer Products, State Bank of India and Axis Bank.

On the flip side, Tata Consultancy Services (TCS), Wipro, Infosys, Tech Mahindra and InterGlobe Aviation (IndiGo) were among the top losers.

Buzzing stocks on September 16: Check list

Shares of payment and banking companies such as Paytm, YES Bank, SBI, Bank of Baroda, Mobikwik, among others, were trading in the green on Wednesday, September 16, after the National Payments Corporation of India (NPCI) on Tuesday introduced a 0.4% fee on UPI payments of more than ₹2,000 made to merchants, effective October 15.

However, the new charge will apply only to person-to-merchant (P2M) transactions above ₹2,000, while everyday person-to-person (P2P) transactions and small payments will continue to remain free.

"Customers will not be required to pay any charge when making such payments through UPI," the finance ministry said in a statement, adding, "MDR is a charge within the merchant payment ecosystem. It is not a charge on customers making UPI payments."

Also, individuals will continue to have "unlimited free usage, with no monthly quotas, volume restrictions or tiered caps on free UPI transactions", it said.

Shares of Billionbrains Garage Ventures, the parent company of wealth management and online trading platform Groww, declined as much as 4.65% to ₹188.40 apiece on the National Stock Exchange (NSE) on Wednesday, September 16.

The stock was in the red amid news reports that 10.41 crore shares, or 1.69% of the company's equity, worth ₹1,999 crore, changed hands at ₹192 apiece through block deals.

The stock of India Pesticides soared as much as 14.8% to hit an intraday high of ₹152.28 per equity share on the NSE on Wednesday, after it informed the exchanges that it successfully obtained technical equivalence approval for one of its insecticide products in the United Kingdom.

Furthermore, it also successfully obtained registration for one of its herbicide products in Argentina, according to a regulatory filing dated September 15.

“These regulatory approvals mark significant milestones in the Company’s international growth journey and strengthen its presence in the global agrochemical market. The approvals are expected to support the Company’s export growth and contribute positively to foreign exchange earnings for the country,” the filing read.

Shares of Godavari Biorefineries rallied as much as 14.2% to touch the session’s peak of ₹258.87 per unit, as it was granted a patent for the use of compounds for treating viral infections from the Chinese Patent Office.

“The invention relates to the use of compounds for inhibiting V-ATPase activity in cells and further discloses their use in the manufacture of medicaments for the treatment of viral infections,” as per a regulatory filing.

Saatvik Green Energy stock surged 10% to touch an intraday high of ₹428.50 apiece on Wednesday, September 16, after the company said it has secured an order from Solar Energy Corporation of India Limited (SECI).

Worth ₹1,041.63 crore, the order involves a supply of solar photovoltaic (PV) modules. The order is expected to be executed by December 2027, the company said in a regulatory filing.

Shares of speciality chemicals manufacturer Prasol Chemicals Limited debuted at ₹610 per share on the NSE on Wednesday, September 16. This reflects a discount of 9.76% to the initial public offering (IPO) issue price of ₹676 apiece.

On the BSE (formerly Bombay Stock Exchange), the stock is listed at ₹611, down 9.62% from the IPO issue price.

A lot consisted of 22 shares and cost ₹14,872. Investors who received the Prasol Chemicals IPO allotment lost ₹1,452 per lot, taking the value of their investment to ₹13,420, as per the listing price on the NSE.

The ₹500 crore IPO was a mix of a fresh issuance of ₹80 crore and an offer for sale (OFS) of ₹420 crore by promoters and existing shareholders.

Glass Wall Systems' shares made a tepid debut on the stock exchanges. The stock started trading at ₹194 per share on the NSE, reflecting an increase of 6.59% over the IPO issue price of ₹182 per share. On the BSE, the scrip is listed at ₹190.10, up 4.45% from the IPO issue price.

A lot consisted of 82 shares and cost ₹14,924. Investors who received the Glass Wall Systems IPO allotment made ₹984 per lot, taking the value of their investment to ₹15,908, as per the listing price on the NSE.

The ₹427.89 crore IPO consisted of a fresh issuance of ₹60 crore and an OFS of ₹367.89 crore by promoters Eshan Jawahar Hemrajani and Jawahar Hariram Hemrajani and investor India Business Excellence Fund IIA.

Shares of transformer maker Kanohar Electricals Ltd made a tepid listing on the stock exchanges. The stock debuted at ₹685.50 per share on the NSE, reflecting an increase of 8.47% from the IPO issue price of ₹632 per unit. On the BSE, the scrip started trading at ₹672.05 apiece, up 6.34% from the issue price.

A lot consisted of 23 shares and cost ₹14,536. Investors who received the Kanohar Electricals IPO allotment made ₹1,230.50 per lot, taking the value of their investment to ₹15,766.50, as per the listing price on the NSE.

The ₹1,055.74 crore initial share sale was a fresh issuance of ₹300 crore and an offer-for-sale component of ₹755.74 crore by promoter K Sons Family Trust.